The ledger of Mai Company includes the following accounts with normal balances as of December 31: Retained Earnings $10,200; Dividends $1,400; Services Revenue $25,000; Wages Expense $14,400; and Rent Expense $4,000. Prepare its December 31 closing entries. View transaction list Journal entry worksheet 1 2 3 4 > Record the entry to close revenue accounts.

The ledger of Mai Company includes the following accounts with normal balances as of December 31: Retained Earnings $10,200; Dividends $1,400; Services Revenue $25,000; Wages Expense $14,400; and Rent Expense $4,000. Prepare its December 31 closing entries. View transaction list Journal entry worksheet 1 2 3 4 > Record the entry to close revenue accounts.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 11PB: Prepare journal entries to record the following transactions. Create a T-account for Unearned...

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